Urbanrise-Alliance Group bets big on Hyderabad
Hyderabad: Real estate developer Urbanrise-Alliance Group which has projects across key markets of south India is betting big on Hyderabad, particularly in the residential sector. The company is also planning for an IPO to meet its expansion needs in Hyderabad and other southern markets. The 18-year-old company has recently launched three projects in Hyderabad that […]
Hyderabad: Real estate developer Urbanrise-Alliance Group which has projects across key markets of south India is betting big on Hyderabad, particularly in the residential sector. The company is also planning for an IPO to meet its expansion needs in Hyderabad and other southern markets.
The 18-year-old company has recently launched three projects in Hyderabad that include ‘Spring is in the air’ at Ameenpur (two phases with a cumulative of 2,200 units, offering 1BHK, 2BHK and 3BHK options), ‘The Happening Heights’ at Bachupally Extension (1,000 units, 22 floors offering 2BHK and 3BHK options), and ‘On Cloud 33’ at Bachupally (2,600 units, 33 floors and five towers offering 2BHK, 3BHK and 4BHK options).
It has projects across Hyderabad, Bengaluru, and Chennai and is further strengthening its base in these three markets. The company also has one million sq ft of office space in Chennai. But largely the company is keen to remain focused on the residential segment.
The company is developing 42 million sq ft and another 25 million sq ft is coming into the market this year. Urbanrise-Alliance Group has handed over 5,000 homes and completed 13,500 units in the south. The company has an inventory of 20,000 units. This fiscal, it has so far sold 2,700 units and by March end it aims to cross 3,000 units.
Manoj Namburu, CMD, Urbanrise-Alliance Group, told Telangana Today, “We are seeing a new trend that home buyers are open to live away from the city (peripheral areas) for better quality of life. Projects such as the ORR have expanded the horizon of the real estate market. In Hyderabad, people also prefer larger residential units. The disposable income of people in certain industries have gone up which is pushing sales of larger size units. There is also demand for home offices in the new normal and we are making them inclusive in our residential projects.”
“We are also seeing an increase in the demand for villas/gated community projects in Telangana. Our group has multiple villa projects in Hyderabad as well as in Bengaluru and Chennai,” he added.
When asked if the reduction in home loan rates is having a positive effect on home buying, he said, “Intra-year reduction has not shown significant impact. If loan rate reductions spread over multiple years, there will be a tangible difference.”
The company plans to expand to Pune and Mumbai in the near term as it is a large volume developer and will not be exploring tier-2 and tier-3 cities for some years. “The company is closely engaged with global investors and financial institutions to meet its financial needs to fuel its growth,” Namburu informed.
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